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Multifamily

Foster Duplexes

6212-6314 SE 134th Ave, Portland, OR 97236

Listing Price: $2,900,000

Cap Rate
6.12%
Number of Units
14
GRM
10.01
Occupancy
95.0%
Price/Unit
$207,143
Price/Gross SF
$257.64
Gross SF
11,256

Investment Overview

The Foster Apartments represents a rare single-story apartment complex located at 6212-6314 SE 134th Ave, Portland, Oregon 97236. Originally constructed in 1997, the property spans 11,200 rentable square feet and offers a unique set of amenities that command top market rents. The amenities include; private garages, fenced backyard areas, in-unit washers/dryers, fireplaces, and abundant cabinet space. The property is built out as seven duplexes and features 14 two-bedroom/one-bathroom units, eleven of which have been updated in the past three years. Within the past few years, three of the roofs and a significant portion of the gutters have been replaced. The owner has also replaced the existing sewer pump system and repaved the entire property.

The average in place rent at Foster Apartments is approximately $1,500 per month with utility reimbursements. Renovated units in the area command a $250 rent premium pointing to a value-add opportunity for the next investor. It’s single-story construction, age, favorable condition and unique amenities package makes the Foster Apartments a rare find for a savvy investor seeking value-add opportunity.
Nestled in the Powellhurst-Gilbert Submarket, The Foster Apartments offers a prime suburban location that's less than 30 minutes from downtown Portland and under 20 minutes from Portland International Airport. Its unique position in a fenced-in cul-de-sac enhances privacy and security for residents. Adjacent to the complex is a park and elementary school, adding to its family-friendly appeal. This strategic location provides the perfect balance of tranquil suburban living with easy access to city amenities, making it an ideal choice for those seeking convenience and quality of life in Portland.

Investment Highlights

  • Rare 90's single-level construction.
  • Superior amenities including private attached garages and washer/dryers in units.
  • Seven (7) units are renovated; Achieving higher than market rent.
  • 11 out of 14 units pay prorated utilities.
  • Seller-carry financing terms available.

Exclusively Listed By

Multifamily

Foster Duplexes

Listing Price: $2,900,000

Cap Rate
6.12%
Number of Units
14
GRM
10.01
Occupancy
95.0%
Price/Unit
$207,143
Price/Gross SF
$257.64
Gross SF
11,256

Investment Highlights

  • Rare 90's single-level construction.
  • Superior amenities including private attached garages and washer/dryers in units.
  • Seven (7) units are renovated; Achieving higher than market rent.
  • 11 out of 14 units pay prorated utilities.
  • Seller-carry financing terms available.

Investment Overview

The Foster Apartments represents a rare single-story apartment complex located at 6212-6314 SE 134th Ave, Portland, Oregon 97236. Originally constructed in 1997, the property spans 11,200 rentable square feet and offers a unique set of amenities that command top market rents. The amenities include; private garages, fenced backyard areas, in-unit washers/dryers, fireplaces, and abundant cabinet space. The property is built out as seven duplexes and features 14 two-bedroom/one-bathroom units, eleven of which have been updated in the past three years. Within the past few years, three of the roofs and a significant portion of the gutters have been replaced. The owner has also replaced the existing sewer pump system and repaved the entire property. The average in place rent at Foster Apartments is approximately $1,500 per month with utility reimbursements. Renovated units in the area command a $250 rent premium pointing to a value-add opportunity for the next investor. It’s single-story construction, age, favorable condition and unique amenities package makes the Foster Apartments a rare find for a savvy investor seeking value-add opportunity. Nestled in the Powellhurst-Gilbert Submarket, The Foster Apartments offers a prime suburban location that's less than 30 minutes from downtown Portland and under 20 minutes from Portland International Airport. Its unique position in a fenced-in cul-de-sac enhances privacy and security for residents. Adjacent to the complex is a park and elementary school, adding to its family-friendly appeal. This strategic location provides the perfect balance of tranquil suburban living with easy access to city amenities, making it an ideal choice for those seeking convenience and quality of life in Portland.

Exclusively Listed By

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